Not sure if this is a complete rookie question, most likely is, but how do i calculate the value of a pip, not just in forex but for example ive got a demo account ive bought .50 of a lot of sugar

apparently googling for this it says each pip is 0.0001 etc of a specific lot size so assuming a 100,000 lot a pip would be 0.00001 ?

sugar one lot is 10,000 ive bought 0.50 of a lot so 5000 - on mt4 each pip is coming in at £38.95 ? i dont get how...

could someone please clarify, one thing im struggling with,

thanks